Present

Associate Sponsors:

Sector Sponsors:

Moneycontrol
Presents Budget 2019

Associate Sponsors

Last Updated : Feb 11, 2019 06:38 PM IST | Source: Moneycontrol.com

An evening walk down Dalal Street | Monday blues on D-Street as Sensex, Nifty end lower; M&M down 5%

At the close of market hours, the Sensex was down 151.45 points or 0.41% at 36395.03, while the Nifty was down 54.80 points or 0.50% at 10888.80.

Moneycontrol News @moneycontrolcom

Equity benchmarks had a subdued performance on Monday, with the Sensex shedding around half a percent. The Nifty ended below 10,900-mark.

There was relative underperformance among the broader markets, with the Nifty Midcap index falling nearly 2 percent.

Barring the tech stocks, automobiles, energy, and pharmaceuticals ended in the red.

Having said that, indices had seen a steeper cut in the morning, but the Sensex recovered around 130 points from the day’s low points.

“Markets made a weak start and lost nearly half a percent amid volatility. In continuation to Friday's fall, Nifty opened with a down tick and remained range bound till the end. Mixed global cues and not so encouraging earnings announcements dampened the sentiment. Majority sectoral indices closed lower in line with the benchmark index,” Jayant Manglik, President, Religare Broking said in a statement.

At the close of market hours, the Sensex was down 151.45 points or 0.41% at 36395.03, while the Nifty was down 54.80 points or 0.50% at 10888.80. The market breadth was negative as 855 shares advanced, against a decline of 1,696 shares, while 136 shares were unchanged.

Tata Steel, Power Grid, and Cipla gained the most, while M&M, ONGC and Dr Reddy’s were the top losers.

Stocks in the News

Shares of Mahindra and Mahindra shed 5 percent after the company cut guidance for tractor business to 10 percent from 12-14 percent.

Hindalco ended 3 percent lower ahead of Q3 results to be declared on February 12, 2019.

Tata Group stocks, Tata Steel and Tata Motors were buzzing in trade. Tata Steel was the top index gainer after management commentary was upbeat after Q3 numbers. Meanwhile, Tata Motors recovered 5 percent from the day’s low point, ending around 1.3 percent higher.

Shares of Motherson Sumi slipped after rising on Q3 results. The stock ended 2 percent lower.

India Cements fell 4 percent after the company announced their Q3 results.

Sun TV’s shares surged in trade after Q3 ad revenues rose over 13 percent. This came in better than expectations.

Shares of Dr Reddy’s Laboratories fell 6 percent as investors reacted to observations being issued to the company by US FDA. The company had told the exchanges that its Formulations Manufacturing Plant - 3 at Bachupally, Hyderabad had been inspected by the US FDA. It has been issued a Form 483 with 11 observations.

Shares of Dewan Housing fell 3.5 percent as investors reacted to buzz of I-T department notice to the firm.

Global Markets

European stocks rallied ahead of talks on trade between US and China. Stoxx 600 was up around 0.9 percent.

Markets in Asia were mixed amid caution on trade talks between China and US. The Shanghai composite rose 1.36 percent to close at 2,653.90 while the Shenzhen component jumped 3.059 percent to finish its trading day at 7,919.05. The Shenzhen composite gained 2.897 percent to close at 1,347.94.
First Published on Feb 11, 2019 04:46 pm
Loading...
Sections
Follow us on
Available On
PCI DSS Compliant